NEW ORLEANS Hibernia Corp. on Monday said it has eliminated four senior management posts in an effort to reorganize its commercial banking and private-client group.
In commercial banking, the company has eliminated the posts of corporate development manager, held by Michael G. Gretchen; strategic development manager, held by Scott P. Howard; and commercial real estate and commercial finance manager, held by Susan L. Johnson. In the private-client group, the trust manager post held by Kenneth A. Rains was cut.
All the job cuts are effective immediately, and the executives are no longer with the company, a Hibernia spokesman said.
The idea behind the reorganization is to avert the need for customers to go through time-consuming, hierarchical structures, the spokesman said. The company did something similar in its retail division last summer, he said.